Bull trap Warning. Although we've broken through critical resistance can't help but considering this being a bull trap so watch out! Need closures on the higher time frames (at least a 4 hourly double closure above most recent green box to confirm the level). Manage those SLs.
Broke through key resistance levels and currently moving to the upside. Today is an important day as we may be pumping on the lower timeframes but anything is possible on the higher time frames. I've included 2 buy zones 1 meant to catch this pump and hopefully profit at the peaks and the 2nd buy zone is based on if we have peaked out already and looking for a pullback. Either way today is a risky day of trading on these lower time frames and price action can change at any time.
Keep that risk management in mind and safe trading!
Broke through key resistance levels and currently moving to the upside. Today is an important day as we may be pumping on the lower timeframes but anything is possible on the higher time frames. I've included 2 buy zones 1 meant to catch this pump and hopefully profit at the peaks and the 2nd buy zone is based on if we have peaked out already and looking for a pullback. Either way today is a risky day of trading on these lower time frames and price action can change at any time.
Keep that risk management in mind and safe trading!
Trade active:
Bounced off the secondary Buy Zone and into TP 1 for that entry-level. No top in sight yet. Keep watching those higher time frames for closure above these critical levels to confirm the health of this pump.
Comment:
Once again each of the target zones for this long position can act as pivot points for a short reversal. Be mindful of a turnaround on volatile pumps like these!
Trade closed: target reached:
All targets achieved.
Comment:
Trade = Win